Number of PDPs Offering Five-Tier Formularies Will Increase: Approximately 84 percent of plans will

have five or more tiers in 2014, up from 67 percent in 2013.

Majority of PDPs Will Continue to Use Specialty Tiers: 93 percent of Part D plans will utilize at least one specialty tier in 2014, compared to 90 percent in 2013.

Five-tier PDPs With One and Three Coinsurance Tiers Will Be More Prevalent: In 2014, roughly 75 percent of five-tier PDPs will utilize one coinsurance tier, while 20 percent of five-tier PDPs will utilize three coinsurance tiers. This trend may gradually increase average cost-sharing across the market as a whole.

Utilization Management Will Increase: Use of prior authorization, step therapy, and quantity limits will increase slightly from 2013 to 2014.